Hacker Withdraws $30 Million From Spartan Protocol

The attacker attacked the Spartan Protocol decentralized financing project running on the Binance Smart Chain (BSC) and pulled about $ 30 million from its liquidity pools.

The cybercriminal reportedly used an exploit aimed at “miscalculating the liquidity share” in the SPARTA / WBNB liquidity pool, which allowed the attacker to withdraw funds.

Analysts at PeckShield uncovered the attack mechanism, finding that an attacker had exploited a vulnerability in the protocol's liquidity determination. The hacker increased the balance of the pool before burning tokens in it in order to withdraw the excess amount of underlying assets. For the attack, he took an instant loan on the PancakeSwap protocol in the amount of 10,000 BNB, which he returned after paying a commission of 260 BNB.

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